Higher turnover and profit for Zeeman

Higher turnover and profit for Zeeman

Over the past year, textile discounter Zeeman has once again seen its turnover and profit rise. The company is identifying many opportunities for growth, in particular in Spain.

 

Locations abroad are becoming increasingly important

Last year, Zeeman recorded a 4 % turnover increase to 609 million euros, Retailtrends learnt. Revenues from the Netherlands amounted to 229 million euros, while foreign activities accounted for 380 million euros. More than 62 % of the discounter’s revenue now is earned abroad.

 

Profits were also significantly higher than a year ago, with the net profit increasing from 12.3 million euros in the previous financial year, to more than 13 million euros. The operating result amounted to just over 20 million euros, an increase of 1.5 million euros compared to 2017.

 

The Dutch textile company is still identifying numerous possibilities for growth in Spain: in just a short space of time, the chain has already opened 43 stores and sees potential for 250 stores in the southern European country. By the end of 2020, the milestone of 100 stores should already have been reached.